Italian populist leader ‘guarantees’ nation won’t exit euro

AP9 Nov 2018

ROME (AP) — The head of one of Italy’s ruling parties says he guarantees that Italy won’t exit the euro currency bloc nor exceed its targeted deficit limit.

Deputy Premier Luigi Di Maio, a coalition leader in the populist government, told reporters Friday that domestic spending cuts plus economic growth spurred by public investment will keep the country from exceeding its deficit target for next year, as European Union officials predict.

Di Maio says “there’s still a lot to cut.” He added: “The guarantee we’re giving is that 2.4 percent (of GDP) is the maximum deficit term” Italy will run up next year.